Loan Balance

Definition

Loan Balance. The outstanding balance on a loan at a particular point in time.

Issues and Challenges

This is the latest outstanding principal balance as at the date for which this is indicated. This also has a present value and a time series of possible past values. The time at which the amount is indicated forms part of the concept "Dated monetary Amount" PoC SDM Term Notes: Balance includes amount outstanding and fees In particular may record the balance outstanding at the time this loan was incorporated into some loan pool So each loan may have a number of balances associated with it recorded at different times. The loan may have been moved into and out of one or more pools. Some of the recorded ballences may be associated with the exact time and balance while this loan enters or exists a particulat pool. Other loan balances may be at different times not associated with a pool entry or exit event. Conesnsus:Review

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.